In Ukraine, there will be risks in financing budget expenditures in January-February - Minister Marchenko

In January-February 2024, there will be risks in financing the state budget expenditures in Ukraine as the assistance from Western partners is insufficient.

On Thursday, December 21, Minister of Finance of Ukraine Serhiy Marchenko announced this during a review of macroeconomic forecasts for 2024 by the Center for Economic Strategies, according to “Interfax-Ukraine."

"Unfortunately, in January-February, the decisions made by the partners are not enough [to finance the needs of the budget], so that we can cope on our own. That's why we currently have a plan B mechanism," he said.

According to the minister, his department has planned measures aimed at mobilizing available domestic resources in the near future, including the early payment of dividends from state-owned companies, as well as increasing the volume of borrowing on the domestic market.

"The situation is not critical, but there is an understanding that during this period we need to rely on internal resources as much as possible," the Head of the Ministry of Finance noted, adding that his department is closely cooperating with the National Bank to solve this task.

Serhiy Marchenko emphasized that the greatest uncertainty lies in spending on the security and defense sector.

"We cannot predict in advance when something might run short there. There are too many questions regarding the effectiveness of the use of funds in this direction," the Minister emphasized.

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